Likely leads to more success.The purchase and sale contract for purchasing a note and security instrument (mortgage/deed of trust) is not the same as real property.

If the WY LLC gets a loan there is a security instrument (deed of trust or mortgage) that needs to be signed and recorded. 

Portfolio = Income derived from financial instruments like dividends (including REITs), interest, royalties, and capital gains.Mostly income w/out loss potential, and favorable tax rates.Cap losses may offset cap gains w up to $3,000 loss.

my SS deal is one of my participation deals were I provide the capital to the operator via a debt instrument then take a participation as part of the note agreement. 

address encumbered by the instrument?

A smart seller will have note, deed of trust/mortgage/etc. prepared by a local real estate attorney (yes, he/she may work with/at the title company) and be sure the security instrument is properly recorded in the land records. 

A restaurant downstairs with odor, and noise till 3:00am is unsuitable for residential tenants.

LLC are favorite protection instruments of course and ideally per property and state specific.

Later, I found out the note broker caught a chicken truck out of town.Joe GoreJoe, I suppose a long long time ago, in a galaxy far, far away Uniform Residential Loan applications were mistaken for Security Instruments and Promissory Notes.

Put the capital in a low-risk instrument (CD, t-bill) that will preserve as much capital as possible even while making your mandatory (5%?)